01. Aug 2018
Petronas Chemicals Group Berhad Enters into MOU for Biorefinery Offtake
Leaf Resources Limited, one of the world's leading companies in converting plant biomass into industrial sugars, has announced that Petronas Chemicals Group Berhad (PCG) and Leaf Malaysia have entered into a non-binding Memorandum of Understanding in relation to Leaf’s proposed biorefinery project in Malaysia.
The MOU provides for, among other things, a study of chemical markets and commercially ready bio-technologies. Subject to satisfactory findings in the study and the approval of PCG, the parties may pursue an offtake agreement for the fermentable sugars produced at the proposed Leaf facility in Segamat Johor Malaysia on terms mutually agreed by the parties and consistent with global project finance standards.
Leaf Resources Managing Director, Ken Richards, welcomed the signing of the MOU, saying it is a good indication of the growing interest in the evolving renewable chemicals Industry.
Leaf Resources has developed proprietary technology for converting biomass to functional industrial sugars, enabling a myriad of downstream technologies for the production of renewable chemicals .
Petronas Chemicals Group Berhad (PCG) is the leading chemicals producer in Malaysia and one of the largest in South East Asia. The group operates numerous production sites, with a total combined production capacity of over 12 million metric tons per annum, which are fully vertically integrated from feedstock to downstream end-products.
http:// www.leafresources.com.au
http://www.petronaschemicals.com.my